6 Jun 2013
EUR/USD eyes 1.3155/60 on ECB statement
FXstreet.com (Barcelona) - The EUR/USD is now gathering traction against the backdrop of the press conference by President M.Draghi.
Draghi stated that the economic recovery in the euro bloc remains sluggish, adding that the central bank lowered its 2013 growth forecasts and increased next year’s to 1.1%. Regarding consumer prices, inflation figures would be 1.4% in the present year, falling to 1.3% during 2014. He mentioned that a combination of fiscal and structural measures would support growth via an improvement in the labour sector.
As of writing, the pair is up 0.51% at 1.3160 and a breakout of 1.3131 (high Jun.6) would open the door to 1.3138 (76.4% of 1.3243-1.2796) en route to 1.3194 (high May 8). On the flip side, support levels line up at 1.3075 (low Jun6) followed by 1.3053 (low Jun.5) and finally 1.3043 (MA200d).
Draghi stated that the economic recovery in the euro bloc remains sluggish, adding that the central bank lowered its 2013 growth forecasts and increased next year’s to 1.1%. Regarding consumer prices, inflation figures would be 1.4% in the present year, falling to 1.3% during 2014. He mentioned that a combination of fiscal and structural measures would support growth via an improvement in the labour sector.
As of writing, the pair is up 0.51% at 1.3160 and a breakout of 1.3131 (high Jun.6) would open the door to 1.3138 (76.4% of 1.3243-1.2796) en route to 1.3194 (high May 8). On the flip side, support levels line up at 1.3075 (low Jun6) followed by 1.3053 (low Jun.5) and finally 1.3043 (MA200d).